Alamo Group (NYSE:ALG) Given New $219.00 Price Target at DA Davidson

Alamo Group (NYSE:ALG) had its target price hoisted by DA Davidson from $209.00 to $219.00 in a report issued on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on ALG. StockNews.com downgraded Alamo Group from a buy rating to a hold rating in a report on Wednesday, July 17th. Robert W. Baird dropped their price objective on shares of Alamo Group from $223.00 to $217.00 and set an outperform rating on the stock in a research note on Friday, August 2nd.

Alamo Group Trading Up 0.6 %

ALG opened at $185.40 on Wednesday. Alamo Group has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a fifty day moving average of $177.67 and a 200-day moving average of $193.22. The stock has a market cap of $2.23 billion, a PE ratio of 16.49 and a beta of 1.04. The company has a quick ratio of 2.49, a current ratio of 4.37 and a debt-to-equity ratio of 0.28.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The business had revenue of $416.30 million during the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same quarter last year, the company earned $3.03 earnings per share. On average, sell-side analysts predict that Alamo Group will post 12.3 EPS for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, July 16th. Alamo Group’s dividend payout ratio is currently 9.25%.

Insider Buying and Selling at Alamo Group

In related news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares in the company, valued at $1,384,421.85. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. increased its holdings in Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the period. Shaker Investments LLC OH raised its holdings in shares of Alamo Group by 1.5% during the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock valued at $911,000 after acquiring an additional 58 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Alamo Group by 2.1% during the second quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 63 shares in the last quarter. Diversified Trust Co lifted its stake in Alamo Group by 5.2% in the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 72 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Alamo Group by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.